Business, 24.07.2020 21:01, jasperc2002owy5b5

Mary buys an annuity that promises to pay her $1,500 at the end of each of the next 20 years. The appropriate interest rate is 7.5%. What is the value of this 20-year annuity today?

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Mary buys an annuity that promises to pay her $1,500 at the end of each of the next 20 years. The ap...